APAC anisole market to accumulate commendable returns by 2024, rising demand for premium cosmetics to impel the regional industry
The global anisole market is projected to experience an accelerated growth over 2018 – 2024, primarily fueled by organic chemical compound’s applications in the rapidly expanding pharmaceutical and cosmetics sectors. Estimated to be valued at over $77 million, the global anisole market has depicted considerable growth due to the product’s rising incorporation in a plethora of cosmetic products, on account of the artificial fragrance that is associated with anisole.
U.S. anisole market size, by application, 2013 – 2024 (USD Million)
It is prudent to mention that anisole is also used to manufacture several different chemical compounds that find applications across a slew of application verticals. However, pharmaceuticals and cosmetics are among the biggest and the fastest growing application sectors that are not constrained by the burden of serving only a niche demographic – which is the reason why these sectors are thriving in some of the most populous regions of the globe, gradually aiding the growth of anisole market as well.
Unveiling APAC anisole market trends
The Asia Pacific is one of the most lucrative regional anisole markets, that is popularly driven by the rise in demand for cosmetic brought on by the increased disposable incomes and the subsequent affordability in the region. According to a 2017 report by the French personal care and cosmetics company – L’Oréal S.A., the firm’s accrued almost 24% of its global sales in 2017 from the Asian belt. This can be undeniably attributed to the rising demands for premium cosmetic products due to the rate at which the discretionary expenditure skyrocketing, especially across the economies of India and China.
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It is also prudent to mention that APAC anisole market has also received commendable boost on account of the product being used as a pesticide, in the agro-based economies, wherein governments have been attempting to readdress pivotal issues in the agricultural domain. For example, the Indian government has brought about initiative such as Pradhan Mantri Fasal Bima Yojana and Paramparagat Krishi Vikas Yojana in order to reform agricultural production, The government of China has also shifted its focus toward agricultural reformation. These initiatives have led to an escalation in the demand for pesticides, that would gradually help augment the regional anisole market trends. Driven by the efforts across the economies, APAC anisole market share is likely to soar in the years to come. As per Global Market Insights, Inc., the APAC region accounts for 30% of the global anisole market share.
Apart from the cosmetic applications, the global anisole market would also be receiving a significant boost from the pharmaceutical sector. The U.S. pharmaceutical sector has been the most flourishing domestic market for the development and commercialization of different pharmaceuticals. According to a report by PricewaterhouseCoopers (PwC), primary pharmaceutical markets such as Europe, North America and Japan had been under considerable pressure a decade back, having experienced a slowdown in growth. Today however, the pharma sector has witnessed considerable incline across the developed as well as developing economies, thereby making the domain a lucrative growth avenue for the global anisole market. Anisole industry share from pharmaceutical applications is expected to witness a CAGR of 4.4% over 2018-2024, driven by the fact that the product serves as a crucial precursor in producing a plethora of pharma compounds. For instance, 4-methoxyphenol, a phenol derived from anisole is used to create 4-methoxyphenol – a chemical used in manufacturing of bulk pharmaceuticals like Raloxifene and Dextromethorphan.
It is imperative to mention that global anisole market growth is slightly hampered due to the small amounts of anisole required for cosmetics products. For instance, according to a study by the American College of Toxicology, p-Hydroxyanisole, a phenol derived from anisole is used as an antioxidant in different cosmetic products in concentrations as low as 1% because the organization recommends that smaller concentrations would not result into it being a severe irritant. Nonetheless, despite anisole and the anisole-derived phenols being used in small quantities and dilute concentrations, the compounds are still expected to be incorporated in a plethora of cosmetic products worldwide, thereby augmenting the commercial landscape of global anisole industry. As per Global market insights, Inc., anisole market size is projected to cross $100 million by 2024.
Author Name : Akshay Kedari
Global testing, inspection and certification (TIC) Services market to witness robust growth from transportation sector, certifications in healthcare to provide additional boost
Growing emphasis on consumer satisfaction and safety has proliferated the testing, inspection, and certification (TIC) services market as governments worldwide have implemented stringent quality regulations on almost every industry vertical. Whether it is construction, automobile, energy, healthcare or other segments, continuous advancement in products and components have necessitated upgraded testing and certification requirements. Improvements in management, product quality, manufacturing processes, supply chains and service value have become imperative for the growth of any business, imposing a need for the TIC services market. Existence of recognized certifications such as ISO:9001 or ISO/TS 16949 make it easier for customers to search for companies that provide excellent product quality, better customer service and new, innovative solutions. The global TIC services market valuation in 2017 stood at over USD 150 billion, driven by the obligation of companies towards meeting specific product requirements and to comply with international quality standards.
U.S. Testing, Inspection, and Certification (TIC) Services Market Revenue, By Service, 2017
Besides helping to control the quality, effective testing and inspection processes aid in minimizing rejections, reduce manufacturing costs and identify reasons for a defective output. The transportation segment, in general, constitutes a major part of the global manufacturing industry where thousands of components or auto parts go through daily quality checks. As governments and international agencies are constantly raising the weight, material and other standards of automobile components to enhance the safety and efficiency of vehicles, the TIC services industry is subsequently gaining massive popularity. OEMs as well as small auto component vendors are striving to achieve high level of quality and get certified, to get documented and provide validity to their proficiencies and expertise. Frequent inspection and evaluation of manufacturing processes by in-house or third party services to maintain a grip on the quality level will continually boost the TIC services market.
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As per estimates, the EU alone produced over 17 million passenger cars and 2.6 million commercial vehicles in 2017. With strict regulations in place to enhance the fuel efficiency of future vehicles and reduce carbon emissions, the TIC services market will experience tremendous growth from testing and inspection of advanced auto components and manufacturing processes. New processes need to be sufficiently tested before implementation and vigorously inspected for any faults or defects to ensure product uniformity. Globally, an emerging product line in the automotive sector is connected and self-driving cars, which presents a challenging task for the TIC services industry. Chipmakers and testing companies are helping to develop these products by adhering to ideal temperature, voltage, electromagnetic interference and several other standards put down for an efficient autonomous system. Automotive standards like ISO 26262 have been introduced related to the safety of electrical and electronic systems within vehicles, warranting adequate testing and inspection to be done on advanced automotive chips.
The TIC services industry is rapidly witnessing demand from the healthcare and life sciences segment, with test and inspection reports of pharmaceutical equipment being critical in assessing whether the international standards are met. TIC companies are trying their best to evolve with technological developments and remain up-to-date with new regulations pertaining to safety and quality. Products, apparatus and supply chains are subject to quality testing activities regularly, as pharmaceutical companies are responsible for providing vital therapeutic solutions. Even other parties involved in the supply chain must go through intense inspection by assigned representatives to be eligible to acquire critical certifications. Citing an instance that signifies the importance of the TIC services market, Swiss WorldCargo recently received IATA’s Center for Independent Validators (CEIV) Pharma certification, which encompasses not only the airline but also the entire organization.
To elaborate, a CEIV Pharma certification indicates that the lifesaving pharmaceutical products are being handled in compliance with the best global standards of safety, security and efficiency by the certified party. With this certification, Swiss WorldCargo has attained a milestone which only a small number of airlines have been able to earn, recognizing them as globally consistent in exhibiting high quality standards while handling pharmaceutical products. Further, U.S. based Nu-Med Plus Inc. has established a quality management program and trained its employees regarding quality standards in an effort to gain ISO 13485 certification. The certification is essential for the company before it files for the approval of its new nitric oxide delivery devices with the FDA and demonstrates the significance of the TIC services market in forming the image of a top-quality healthcare product or service provider.
Overall, the TIC services industry will undergo remarkable transformation due to incessant developments in the life sciences field, resulting from the existence of rigorous certification eligibilities in healthcare and mandates that demand high quality control. Slated to record a 6% CAGR from 2018 to 2024, the TIC services market is highly dispersed with key players like Intertek, SGS SA, Bureau Veritas, DEKRA, TUV SUD, Apave and Eurofins being the major participants.
Author Name : Pankaj Singh
A brief outline of sodium acetate market: substantial product demand from food processing sector to drive global industry growth over 2017-2024
In the recent times, sodium acetate market has witnessed a rather lucrative commercialization prospects owing to its extensive application across numerous business verticals including food processing, leather and textile, and pharmaceuticals. Prominently utilized as a food preservative, sodium acetate has further found widespread usage as a neutralizing agent, diuretic agent, and buffering & pickling agent across various end-use domains – a factor that has contributed significantly toward sodium acetate industry share augmentation. Moreover, rapid industrialization and enormous FDI investment in emerging nations across the globe has spurred the growth potential of the aforementioned industry verticals, which has, in turn, driven the sodium acetate market size expansion.
U.S. Sodium Acetate Market Size, by Product, 2013 – 2024 (USD Million)
Food processing sector to emerge as a prominent end-user of sodium acetate industry
Owing to its excellent food preservation qualities, sodium acetate has been increasingly preferred by food processing industry over the past decade, which has proved to be quite beneficial for the overall sodium acetate market. The widescale applicability of this chemical can be attributed to the massive rise in the consumption of canned food items subject to fast-paced lifestyles and a drastic variation in dietary habits across developed and developing countries. This has, in consequence, provided a significant boost to the growth potential of sodium acetate industry. Apparently, sodium acetate is being utilized as an acid regulator to prevent the growth of harmful bacteria in canned meat, vegetables, and fruit. Furthermore, it would be prudent to mention that the addition of sodium acetate during the canning and drying procedures not only desists bacterial growth but also extends the shelf life of the product.
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Concurrently, sodium acetate market has found a major foothold in the global dairy sector, as the chemical is being utilized as an emulsifier and preservative in numerous dairy products. Apart from being widely used in condensed milk, sour cream, buttermilk, whey-based yogurts and drinks, sodium acetate has emerged as a preferred preservative in cheese preparations such as processed cheese, ripened cheese, cheese analogues, and processed cheese. In view of the rapid advancement of the global dairy sector, the growing prominence of sodium acetate as a preservative in the overall dairy industry is likely to impel the sodium acetate market size expansion.
Thus, the rising significance of sodium acetate in the global food processing sector can be validated from the aforementioned declarations. In fact, as per the research report compiled by Global Market Insights, Inc., food processing vertical accounted for more than USD 26 million of the revenue share of the total sodium acetate industry size in the year 2016.
The Asia Pacific region has indeed established itself as a profitable growth terrain for sodium acetate market stakeholders, as the expansion of numerous end-use verticals in this region has been much more pronounced when compared to other developing economies. For instance, sodium acetate is regarded as one of the most popular preservatives in Japan with the total demand for the chemical, as per reliable sources, being a humongous 3,500 tonnes. Apparently, such statistics demonstrate the necessity of sodium acetate across various verticals in the Asia Pacific region. For the record, Asia Pacific sodium acetate industry is estimated to have apportioned more than 55% of the total revenue share of this business space in 2016.
Elaborating further, it is quite imperative to mention that this multimillion-dollar business sphere is set to exhibit robust growth rate over the forthcoming years owing to the humongous deployment potential of sodium acetate – right from modest domestic uses to intricate chemical and industrial applications. In addition to this, the leading sodium acetate industry participants have been investing massively in vital research and development activities to strengthen their position in this swiftly emerging bulk and specialty chemicals vertical. Apparently, considering the aforementioned aspects, it quite undeniable that the sodium acetate market growth prospects appear to be substantially profitable in the ensuing years, with a target revenue of USD 220 million by 2024.
Author Name : Saif Ali Bepari
Sodium silicate market to hit the coveted 10-billion-dollar frontier by 2024, fueled by a widespread demand for biodiesels
Sodium silicate market, an inherent vertical of the specialty chemicals space, has already established its name in the billion-dollar league, owing to the extensive demand of the chemical compound across myriad end-use domains. Pertaining to the product’s low cost and ease of use, it has been deployed as a detergent, adhesive, cleaning compound, cement ingredient, binder, coagulating agent, and anticorrosive agent in numerous sectors, propelling sodium silicate market size. Indeed, the compound’s widespread and almost all-encompassing presence has facilitated sodium silicate industry to maintain a steady growth graph. The compound is also used as a catalyst, thus generating another profitable growth avenue for sodium silicate market. With continuous research and development programs being conducted to expand the area of application of the compound, it is certain that sodium silicate industry will continue to uphold its profitable position over 2017-2024.Detergents are one of the prime application arenas of sodium silicate industry since decades. This chemical compound is rather to incorporate into the detergent paste and helps in maintaining the viscosity and desired density of the detergent. The product is highly effective in removing spots, neutralizing acidic stains, dispersing proteins and suspending greasy particles in the wash liquid, thus impelling sodium silicate industry size from the detergent manufacturing sector.
U.S. Sodium Silicate Market Size, by Application, 2013 – 2024 (USD Million)
It has been observed that among the varied uses of sodium silicate, the compound is known to efficiently function as a good adhesive. The subsequent deployment of this product as an adhesive has led to a major impetus in the growth graph of sodium silicate market. Sodium silicate adhesives have the inherent ability to easily expand and make contact, forming a rigid layer that is permanent, resistant to tears, and even possesses the capacity to withstand water and heat. The compatibility of sodium silicate adhesives on a varied range of substances like paper, metal and wood besides other materials, has spurred the sodium silicate market share further.
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Of late, sodium silicate has found extensive application as an effective catalyst for the synthesis of biodiesels that have gained popularity as a sustainable fuel. Currently, amidst the backdrop of a scenario where the lookout for alternative fuel sources has become a race against time, manufacturing biodiesels through the transesterification of organic materials has become rather commonplace. In a bid to simplify the process, sodium silicate is used as an effective catalyst, thereby stimulating sodium silicate industry outlook. The ease of procuring the chemical compound has reinforced its position as a catalyst in the transesterification process. As biodiesels will continue to attain increased application in energy generation and alternative fuel source, sodium silicate market trends will continue to witness a dynamic transformation in the ensuing years.
Sodium silicate is used widely in other application domains such as water treatment, casting, coating, textiles, agglomeration, chemical injection, paper treatment and more. In consequence, this would prove to be a rather beneficial for the commercialization graph of sodium silicate market over the next few years. With numerous chemical companies working toward expanding the application scope of this compound, in addition to innumerable research & development programs being conducted to unearth further prospective product uses, sodium silicate market has been forecast to garner commendable profits over 2017-2024.
Author Name : Paroma Bhattacharya
Global xylitol market to surpass the billion-dollar benchmark by 2023, China to be the chief growth avenue
The escalating scientific and commercial interest in xylitol is making the global xylitol industry an appealing commercialization proposition. The growing health consciousness among people has directly influenced the business landscape of the global xylitol market. Its properties of being used as a low-calorie substitute for traditional sweeteners is assisting its penetration across a myriad range of sectors such as personal care, food, pharmaceuticals, confectionary, and nutraceuticals. In addition, the rising healthcare expenditure, which has been indeed addressed as a global concern is further providing a significant impetus to the overall xylitol industry space. The U.S. is one of the prominent countries facing the healthcare costs burden profoundly. The trends depict that obesity is one of the leading causes of this rising expenditure, being the source of several other ailments such as diabetes, cardiac disorders, physical disabilities, etc. According to WHO, globally over 2.8 million people die from obesity and the consequent ailments on an annual basis.
U.S. Xylitol Market size, by application, 2013-2023 (Kilo Tons)
To combat the rising concerns regarding healthcare expenditure as well as to ensure sound health of the global population base, xylitol market has observed massive gains over the recent years. Xylitol has become a prominent name in the overall polyol industry space and had attained a remarkable revenue of USD 750 million in 2015. Through consumption via medicines and food, xylitol serves as a major solution to the issues related to obesity. This has subsequently enhanced the application portfolio of xylitol industry in the food and pharmaceutical sectors. As per the estimates, xylitol market size from food applications is estimated to register the highest CAGR of 7% over the period of 2016-2023.
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Owing to the medicinal properties, chewing gum applications led the overall landscape with a revenue record of over USD 450 million in 2015. The growth can be credited to the ability of xylitol based chewing gums to prevent dry mouth, tooth decays, and cavity progressions. As per the estimates, xylitol market share from chewing gum applications is estimated to record a CAGR of 6% over the timeframe of 2016-2024. Personal care industry is also one of the prominent contributors toward the overall xylitol market share. This application is poised to witness a substantial growth rate over the coming years, driven by its usage in fluoride tablets, mouthwash, and toothpaste.
The swift economic development and the rapid urbanization is significantly influencing the global landscape of the xylitol industry. Below are the regional trends pertaining to this market:
- The U.S. xylitol industry is expected to surpass a revenue of USD 350 million by 2023. The food applications in this region are likely to drive the product demand with a CAGR of 5.4% over the period of 2016-2023.
- Germany market is estimated to witness substantial growth over the coming seven years having held a revenue of USD 65 million in 2015. Chewing gum application is likely to drive the regional demand.
- China is estimated to be the major avenue for the overall xylitol industry growth over 2016-2023, with a target market size of 25 kilo tons by 2023. The huge regional confectionary base worth USD 9.5 billion is the major factor boosting the market trends.
- France market is estimated to grow at an annual rate of 5.5% over the coming six years, driven by the rising obese and diabetic patient base.
- Brazil personal care application is projected to exceed a revenue margin of USD 1.7 million by 2023.
The industry is consolidated with the top four players- Futaste Pharmaceutical, Danisco (DuPont), Yucheng Lujian Biological Technology Co. Ltd., and Hangzhou Shouxing Biological Technology Co. Ltd. sharing 40% of the overall business space. With a strong production base in China, the region has become a prominent export destination. Pricing is one of the chief parameters ruling the competitive scenario.
Despite the industry growth restraints including- tight raw material (corncob) supply and product substitute threat through the replacement by other sugar polyols such as sorbitol, maltol, and mannitol, the xylitol industry will sustain its valuation in the coming years with the diversified application spectrum across the end-use sectors. Global Market Insights, Inc. estimates the xylitol market to surpass a revenue of USD 1 billion by 2023.
Author Name :Shikha Sinha
Prebiotics market to witness an exponential growth rate over 2017-2024, fueled by rising awareness about digestive immunity and the potential health hazards of obesity
With potentially growing interest in the improvement of digestive health through supplements, prebiotics market size has indeed observed a striking ascent in the last few years. Vital foods that have long since been a natural source for prebiotics, have now witnessed a decline in consumption, plausibly on account of the changing lifestyle habits. In consequence, this paradigm shift in meal consumption has manifested itself in the form of obesity, Alzheimer’s, diabetes, cancer and myriad other diseases that are now widespread across the globe. Amidst this scenario, the importance of prebiotics that act as a type of fertilizer to the beneficial bacteria already present in the gut has been doubly stressed upon, which has indeed also had a major impact on the popularity of prebiotics industry. Prebiotics are naturally present in foods like leeks, onions, garlic, bananas, wheat grain, yogurt and biscuits. However, prebiotics are being added to an expanding array of food products that can be as varied as puddings to frozen chicken, owing to which prebiotics market has been gaining increased momentum since the last few years.
North America Prebiotics Market Size, By Ingredients, 2016 & 2024 (USD Million)
It is prudent to mention that prebiotics industry is also being propelled by the globally growing awareness about health and immunity, in tandem with – ironically, the rising demand for probiotics. These products provide improved gastrointestinal health to the host when administered in measured amounts. However, they are also very delicate and can often be rendered ineffective by stomach acids and heat even before they are digested, on account of which prebiotics are required to strengthen the functioning of probiotics. Currently, despite the probiotic industry having sustained for a longer duration, prebiotics market seems to be growing faster as prebiotics alone can contribute much as far as the improvement of gastrointestinal health and immunity is concerned, as opposed to probiotics that cannot function unaided. The fact that the gastrointestinal tract has different immunity functions as compared to the rest of the body has not been fully appreciated until recently. However, with the support of the medical community, this fact is now being emphasized that the gastrointestinal tract contains more than 80% of the antibody producing cells of the body. Consequently, prebiotics market has begun to witness unprecedented demand as consumers are paying more attention to maintain gastrointestinal health. Digestive immunity had long been considered vulnerable in infants and aging people. However, the growing health conscious population of all ages are now adopting various means of boosting digestive health thus stimulating the prebiotics industry.
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One of the most lucrative end-use domains of prebiotics market is the F&B sector. The rise in lifestyle diseases like diabetes and obesity, especially in Europe and the US has increased awareness among the regional and global populace, enabling them to have a renewed look at their diet. Subsequently, this changed outlook has augmented prebiotics market size from the sub-verticals of the F&B sector. Say for instance, subject to the increased demand of fermented meat owing to its effectiveness in improving fiber functionality, it has been forecast that prebiotic industry share from fermented meat applications will witness a CAGR of 13% over 2017-2024. Speaking along similar lines, prebiotics market has also found potential growth avenues through the animal feed sector. With the restriction of use of antibiotics and growth hormones in animal feed, use of prebiotics in the same has gained momentum as prebiotics enhance metabolism and enhance the overall health of livestock.
Gaining consumer confidence would be one of the many challenges faced by prebiotics market players. The concept of prebiotics has not become as popular as the concept of probiotics so far, and a large percentage of consumers are not only skeptical, but also refusing to compromise on appetizing products for the sake of healthy eating. However, as the digestive and immunity enhancing qualities of prebiotics are increasingly coming to light, it is estimated that the prebiotics market will witness exponential growth in the years ahead. As per estimates, prebiotics industry size will cross USD 8.5 billion by 2024, from a valuation of USD 3.5 billion in 2016.
Author Name : Paroma Bhattacharya